Canadian Apartment Properties REIT (TSE:CAR.UN) Sets New 12-Month Low – Here’s What Happened

Shares of Canadian Apartment Properties REIT (TSE:CAR.UN) reached a new 52-week low on Friday . The company traded as low as C$36.65 and last traded at C$36.73, with a volume of 59767 shares changing hands. The stock had previously closed at C$36.92.

Wall Street Analysts Forecast Growth

CAR.UN has been the topic of several analyst reports. Desjardins decreased their price target on Canadian Apartment Properties REIT from C$50.00 to C$48.00 and set a “buy” rating on the stock in a research report on Friday, September 19th. CIBC decreased their target price on shares of Canadian Apartment Properties REIT from C$50.00 to C$45.00 in a report on Monday, November 10th. Scotiabank lowered their target price on shares of Canadian Apartment Properties REIT from C$47.50 to C$45.00 in a research note on Tuesday, November 11th. TD Securities reduced their price target on shares of Canadian Apartment Properties REIT from C$52.00 to C$49.00 in a research report on Monday, November 10th. Finally, BMO Capital Markets decreased their price target on shares of Canadian Apartment Properties REIT from C$48.00 to C$47.00 in a report on Wednesday, November 12th. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of C$47.81.

Canadian Apartment Properties REIT Price Performance

The firm has a market capitalization of C$5.73 billion, a PE ratio of 93.36, a P/E/G ratio of -10.12 and a beta of 0.94. The company has a debt-to-equity ratio of 76.05, a current ratio of 0.36 and a quick ratio of 0.16. The business’s 50 day moving average is C$38.87 and its two-hundred day moving average is C$41.76.

Canadian Apartment Properties REIT (TSE:CAR.UN) last issued its quarterly earnings results on Thursday, November 6th. The company reported C$0.16 EPS for the quarter. The firm had revenue of C$252.32 million for the quarter. Canadian Apartment Properties REIT had a negative net margin of 4.95% and a negative return on equity of 1.08%.

Canadian Apartment Properties REIT Company Profile

Canadian Apartment Properties Real Estate Investment Trust, or CAPREIT, is a real estate investment trust primarily engaged in the acquisition and leasing of multiunit residential rental properties located near major urban centers across Canada. The company’s real estate portfolio is mainly composed of apartments and townhouses situated near public amenities.